Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 31.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,205,650 shares of the bank's stock after selling 2,857,786 shares during the period. Hsbc Holdings PLC owned about 0.43% of Huntington Bancshares worth $101,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Creative Capital Management Investments LLC increased its stake in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $37,000. Transce3nd LLC acquired a new position in Huntington Bancshares in the 4th quarter valued at $48,000. Finally, Asset Dedication LLC lifted its holdings in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,617 shares of company stock valued at $2,942,892. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Monday. Citigroup cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Raymond James restated a "strong-buy" rating and set a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a report on Monday. Royal Bank of Canada cut their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday. Finally, Morgan Stanley lowered their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.39.

Huntington Bancshares Stock Up 1.7 %

NASDAQ:HBAN opened at $14.17 on Thursday. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock's fifty day moving average is $14.70 and its two-hundred day moving average is $15.99. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $0.27 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its Board of Directors has initiated a share buyback program on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.38%. Huntington Bancshares's dividend payout ratio (DPR) is 47.33%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.

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